TechFlow reported on January 6 that multiple technical indicators signal bullish momentum for ETH. The number of whale wallet addresses holding more than 1,000 ETH has rebounded to 5,615 after a brief dip at the start of the month, indicating restored confidence among large investors.
On the technical front, ETH formed a golden cross pattern early this month. The current RSI stands at 63.6, maintaining a neutral-to-bullish trajectory after retreating from overbought levels. An RSI breakout above 70 could reignite upward momentum, while a drop below 50 might suggest weakening bullish strength.
In terms of key price levels, ETH’s main support is at $3,543, with resistance at $3,827. Analysts believe that a breakout above $3,827 would pave the way for a move toward the $4,000 mark.
